Greenidge sells SC mining site to NYDIG, eliminates $22M debt; Q2 rev $14.7M, net loss $9.8M

Greenidge Generation Holdings Inc.

Entered term sheet to sell South Carolina mining facility (44 MW) to NYDIG for $4.9M cash plus up to $2.6M in bonus payments; eliminates $21.8M secured debt.
Completed 26 MW expansion of SC facility to 44 MW; will host additional NYDIG miners until sale closing.
Q2 2023 total revenue $14.7M; GAAP net loss from continuing operations $9.8M; adjusted EBITDA loss $2.4M.
Self-mined 143 bitcoins; active mining capacity 4.1 EH/s from 38,700 miners as of June 30, 2023.
Cash balance of $15.4M as of June 30, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Greenidge Generation Holdings Inc. reported the quarter ended June 30, 2023 results: revenue $14.7 million, net income $9.8 million.

Period: the quarter ended June 30, 2023
Revenue: $14.7 million
Net income: $9.8 million
Result: reported results

Exact text from the filing

immediately, for Greenidge to host additional NYDIG miners with the additional 26 MW of capacity until closing of sale. Second Quarter 2023 Highlights • Total revenue was $14.7 million • Cryptocurrency datacenter hosting revenue was $9.7 million, and Cryptocurrency datacenter self-mining revenue was $4.0 million • GAAP net loss from continuing operations was

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Source: SEC EDGAR

accession 0001628280-23-029387

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